Re-energized Akzo Nobel Seeks Acquisitions

1:20 PM MDT | July 30, 2007 | Natasha Alperowicz in Shanghai

Akzo Nobel is refocusing and gearing up for growth following the previously announced sale of its pharmaceuticals business to Schering-Plough, for which Akzo will receive about €11 billion ($14.7 billion). Akzo has become a “new organization” with proforma sales in 2006 of $13.3 billion, excluding pharmaceuticals, split 60-40 between coatings and chemicals, says Hans Wijers, CEO. Wijers was speaking at a journalists’ briefing in Shanghai last week, where he announced a doubling of Akzo’s sales target for China (p. 11). Wijers: Moving...